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Old 6th December 2012, 12:56   #2251
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Originally Posted by ghodlur View Post
Boy, you did the same mistake which many new cars owners do - Drive without valid Insurance papers and car documents. Ideally you should have waited till the car is transferred to your name & then Insurance before you can hit the streets. To answer your queries.

1)Ofcourse your claim will be rejected since the insurance is not yet tranferred to your name for your to claim the damages. Doesnt matter if the RTO record shows sold, its the Insurance policy which the Insurer refers to in case of claims. However you can ask you company to claim the damages till the transfer is done. OR Call up the Insurer to find the procedure to do so.
2. Yes, you should file FIR in your name. But does this help now (since you are still on the losing side), have there been any bodily harm to you or third party? Or whether the Cab is willing to bear the damage repairs? If so then rightfully FIR needs to be filed.
3. Usually the grace period for comprehensive policies are 15 days in case of Insurance transfer or Insurance renewal.
Since it was mistake of both party as both did not apply break, Decided we wont give FIR against each other and no injury to anyone. So Today i gave complaint telling some unknown vehicle hit the car and vanished after Insurance company rep told me to do.

Since my registration has not changed and RC is with me only, I just took seal from office telling i haven't changed registration yet please put seal of claim form. Have given RC copy and complaint copy so insurance company has accepted the claim.
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Old 11th December 2012, 08:35   #2252
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My Safari GX is completing 1 year and its 2nd insurance is due.

I received a call from Tata Motors, offering "TM insurance" offered through various insurance companies and they just asked to contact the dealer for further details.

The dealership on the other hand is offering insurance through united india assurance and are completely silent about it being TM approved. On asking specifically regarding call from TM, they say something like it all is same (meaning TM insurance has no specific advantage over what they are offering through united).

So obviously dealership doesn't get much by selling TM insurance and they are offering what is best for them.

As a consumer what shall I do? Go with what dealership offers or check out what really this TM insurance (offered through various insurance companies) is?

Also, for a 1 yr old Safari GX they are quoting the premium to be 25k. How does that sound? They say, no claim bonus is already deducted. Last year they had charged 30k.
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Old 11th December 2012, 08:43   #2253
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Originally Posted by mayuresh View Post
My Safari GX is completing 1 year and its 2nd insurance is due.
As a consumer what shall I do? Go with what dealership offers or check out what really this TM insurance (offered through various insurance companies) is?
I would suggest you to take the Insurance from outside and dont depend on the dealer. All you need to know is with which Insurers does the Tata workshop has cashless tie up, contact them for a quote. Better option is to get an online quote for the premiums.
Since you have a NCB of 20% for the 1st year, you have already saved 6K from last year's premium. You should have a quote of around 22K IMO.
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Old 11th December 2012, 20:19   #2254
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Is there any such thing called "Tata Motors Insurance"?

I was given to understand about such a thing in a call received from Tata Motors. I was in a hurry and do not recollect the details and the executive had politely refused to mail them. But there was probably something about free towing and all.

Also they said it can be purchased from any of the major insurance companies. (They mentioned many names.)

For further details they asked to contact the dealership and that's where the catch is. Dealership people say they have no clue what I am talking about.

Has anyone bought such an insurance that has any special arrangement via Tata Motors?
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Old 18th December 2012, 09:55   #2255
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I have a 5 year old Wagon R Duo LXI. Existing insurance was with Bajaj and IDV was 1,86,224.
I was trying Tata Aig online renewal where my IDV is put as 4,13,369
This is almost the price i payed when i got the car. Is the value correct? My understanding was that IDV will reduce with year.
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Old 18th December 2012, 15:21   #2256
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Quote:
Originally Posted by rajesh1868 View Post
I have a 5 year old Wagon R Duo LXI. Existing insurance was with Bajaj and IDV was 1,86,224.
I was trying Tata Aig online renewal where my IDV is put as 4,13,369
This is almost the price i payed when i got the car. Is the value correct? My understanding was that IDV will reduce with year.
Either you have entered the manufacturer year wrongly online or the records in the Tata AIG for your Wagon R variant must have been botched up. Try other Insurers. If you still want to go for Tata AIG, call up their customer care & highlight the discrepancy. If the IDV is still the same as online then you should go for it.
Do take a note that for cars beyond 5 yrs of age, there is no depreciation % calculated for IDV, its mutually agreed value between the Insurer and Insured.
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Old 18th December 2012, 15:25   #2257
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Default Re: Automobile Insurance Queries? Ask me

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Originally Posted by ghodlur View Post
Either you have entered the manufacturer year wrongly online or the records in the Tata AIG for your Wagon R variant must have been botched up. Try other Insurers. If you still want to go for Tata AIG, call up their customer care & highlight the discrepancy. If the IDV is still the same as online then you should go for it.
Do take a note that for cars beyond 5 yrs of age, there is no depreciation % calculated for IDV, its mutually agreed value between the Insurer and Insured.
I have entered the details correctly. Tried calling the customer care but the guy just put me on an endless wait. Will check with other providers as well
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Old 24th December 2012, 14:19   #2258
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Default Re: Automobile Insurance Queries? Ask me

Guys ,
I need some advise regarding insurance claim.
The 3rd year insurance of my car is due for renewal in Feb 13 and the windshield of my car has cracked due to impact of a stone during my recent highway trip .

As the crack is not that big @ this moment, but im sure the more i drive the crack will get bigger due to the air pressure, so i was thinking about getting the glass changed only after renewing the insurance, so that i dont loose my NCB.
Wanted to know , say i renew the insurance in the last week of Jan 13 , which will include the no claim bonus , and then will it be possible for me to claim insurance in the 1st week of feb without hampering the NCB for this year as i would have already made the payment towards renewing the insurance.
Can i anyone advise how does that work .

Also replacing the glass would set be back my 6.5k if i pay on my own and 1-1.5 k if i go through insurance , but i was thinking about getting some more work done and claim the whole stuff under insurance .


Please advise .

Cheers.

Last edited by Schoudhury : 24th December 2012 at 14:22.
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Old 24th December 2012, 17:00   #2259
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Guys I need some advice too. My car is a Hyundai Accent - Dec2008 - aftermarket cng endorsed on RC.
1. Current IDV by IciciLombard is Rs 3,73,000 which is too high as compared to the mkt value of the car. Last yr it was Rs 3,20,000 - by oriental insurance. I am confused.
2. Current market value of my car (as per carwale) is around 2L.
3. In case of theft or total loss, will Icici pay their idv which Rs 3,73,000 or as per the market price?
I have to renew my insurance tomorrow. Thanks in advance!!
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Old 25th December 2012, 20:14   #2260
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Quote:
Originally Posted by Schoudhury View Post
Wanted to know , say i renew the insurance in the last week of Jan 13 , which will include the no claim bonus , and then will it be possible for me to claim insurance in the 1st week of feb without hampering the NCB for this year as i would have already made the payment towards renewing the insurance.
You should be able to claim after you have renewed the Insurance and taken the NCB advantage. Once you claim in any Insurance policy year the NCB for the next year gets affected. Also reg combining claims with other repair works, it depends upon your equation with the workshop if they can show that all the repair works are related.

Quote:
Originally Posted by sinhead View Post
3. In case of theft or total loss, will Icici pay their idv which Rs 3,73,000 or as per the market price?
Insurers are bound to pay by the IDV on the policy in case of total loss/theft but threads in the forum have proved otherwise as they come up with some loopholes somewhere. So before you buy a policy ensure that the IDV is correct. Maybe ICICI does not have the correct valuations for the car's IDV, you do still have an option to correct the IDV if being bought online.
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Old 28th December 2012, 20:28   #2261
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Hi All,

My car is about to complete 1 year next month (Jan 2013) and I started hunting for the right insurance for renewal.

But before I could start, my dealer started calling me for the renewal.

But being the TBHP member that I am, I started reading out various articles about renewal and other things. However I was still feeling confused on a few things that I wanted to ask here.

First some facts:

1. When I purchased the vehicle, I got Maruti Insurance which is nothing but Maruti's tie up with other insurance providers. In my case, it was Royal Sundaram (RS).

2. As I read in some forums, for a brand new car the IDV is taken as 5% less than the ex-showroom price. In my case the ex-showroom price was 400065 and the IDV was 5% less which came to 380062.

3. For the purpose of second renewal, the dealer is taking the IDV as 320052 which is more than a 15% deduction of the current policy IDV. And they are not willing to change it.

4. I also independently contacted RS folks who allow me to vary the IDV online upto 15% of their own valuation of IDV (352000) for my vehicle.

5. Dealer is giving a premium quote of Rs. 7626/- (IDV 320052)for a comprehensive (normal depreciation) whereas the RS folks are quoting Rs. 7203/- (IDV 317475 10% dep) and Rs. 7216/- (IDV 335000 5% dep)

5. Dealer is also giving freebies like free wheel alignment and free vehicle checkup

Now some questions.

1. Is it better to go with dealer (Maruti Insurance) or directly contact the insurance provider (RS in my case)? My personal opinion would be dealer because that is where I am will go in case of any claims (touch wood) and since I have taken it from the dealer, I feel things might be easy.

2. Should I go for a the dealer's IDV of 320052 or ask them again to raise it to atleast 340000? I dont mind the extra premium.

My only concern is that this extent of reduction in IDV might devalue the vehicle cost in the long run in case I make up my mind to sell it off.

3. Can I atleast ask the dealer to match the premium quoted by RS folks or maybe any other discount?

4. Is the IDV calculated as a percentage of previous IDV or an increasing percentage reduction on the ex-showroom price? i.e. is it like after 1st year, IDV will be 15% less than ex-showroom price, after second year it will be 25% less than ex-showroom price?

Your responses are truly valued and appreciated.

regards
Dhrupadh
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Old 29th December 2012, 12:41   #2262
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Hi Team,

Today, I got the car insurance renewed of my Wagon R Vxi Jan 2011 Model with externally fitted Sequential CNG.I logged in Policy Bazaar and mentioned the car details few days back since existing policy is from National Insurance and I have not taken any claim since in last two years duration of Insurance from same insurance provider.I have already gone through this thread and hence decided to change the insurance company this time.I confirmed from few of my collegues also who have opted for Bajaj Allianz and their views were enough to go ahead.

The details are mentioned below for the kind reference:-

1. Car Model : Jan 2011
2. Registration : Jan 2011
3. Previous CNG value : INR 31500
4. Current CNG value : INR 30000
5. Previous IDV : INR 311292 ( Without CNG endorsement )
6. Current IDV : INR 313032
7. Previous Premium Paid : INR (7872+1450= 9322 )(With CNG endorsement)
8. Current Premium Paid : INR 6636 (With CNG endorsement)
9. NCB : 25%
10.Policy type : 24x7 Spot Assistance
11. Claim Mode : Cashless ( Peace of Mind )

Regards,
Lalit Tyagi
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Old 29th December 2012, 13:13   #2263
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Quote:
Originally Posted by dhrupadh View Post
1. Is it better to go with dealer (Maruti Insurance) or directly contact the insurance provider (RS in my case)? My personal opinion would be dealer because that is where I am will go in case of any claims (touch wood) and since I have taken it from the dealer, I feel things might be easy.

2. Should I go for a the dealer's IDV of 320052 or ask them again to raise it to atleast 340000? I dont mind the extra premium.

My only concern is that this extent of reduction in IDV might devalue the vehicle cost in the long run in case I make up my mind to sell it off.

3. Can I atleast ask the dealer to match the premium quoted by RS folks or maybe any other discount?

4. Is the IDV calculated as a percentage of previous IDV or an increasing percentage reduction on the ex-showroom price? i.e. is it like after 1st year, IDV will be 15% less than ex-showroom price, after second year it will be 25% less than ex-showroom price?
Dhrupad,
I have answered your confusion reg IDV in another thread.
Regarding your renewal, did you ask Maruti as to how did they arrive at the IDV when it is wrongly calculated. Your ideal IDV should be 342XXX. Suggest you to renew the policy from RS directly and get a quote for the above IDV. As long as RS has cashless tie up with the MS dealer/workshop you are better off with it. Insurance is your call nor dealer's.
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Old 29th December 2012, 14:01   #2264
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A few days back when my car was parked a few chunks of cement from a broken edge of the roof of a building fell on the car. When I approached my car it was covered in dust. I decided to wipe it off when I found these chunks on the roof and also the floor. I noticed it has left quite a few dents and the paint had also peeled off. The rear glass has also been etched. Look closely and you will find white marks on the glass. I wanted to know if insurance covers this? I hope it will.
Car- Hyundai i20
Insurance Co.: TATA AIG
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Old 29th December 2012, 21:12   #2265
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I have a query: Is it not legal anymore to just purchase Third Party insurance alone and not Comprehensive ?

A friend, whose car is insured with Tata AIG Comprehensive; expires next month, wants to downgrade the package to Third Party only. The company tells him that comprehensive insurance is a must now.
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